Continuing efforts by financial regulators and by firms themselves to monitor and offset risk have affected almost all areas of firms’ operations, including the management and maintenance of data. The overhaul of global systems following the financial crisis has led to an audit of data, and specifically of the information which firms hold about themselves and their counterparties or clients, known as business entity reference data.

It is time to close both Fannie Mae and Freddie Mac—the government-sponsored mortgage giants. Both entities distort the country’s housing finance market by issuing mortgage-backed securities with subsidized government guarantees that the mortgages will be repaid. If guarantees are necessary, they should be priced and issued by the private sector, not by the state. Financial institutions expert David C. John details specific steps to achieve this shutdown carefully and methodically without further upsetting the delicate housing market—and without making the situation worse.

Heritage:Promoting Economic Freedom Key to Realizing World Bank’s MissionAs the largest shareholder at the World Bank, the United States should play a proactive role in helping improve the effectiveness of its development practices. Although the executive branch has the key role in representing U.S. interests in the bank, Congress can exercise influence through oversight and control over the bank’s funding process to encourage changes in policies or procedures.